 "Shree Cement: Compelling but expensive growth story")
Following the note ban, the Street was estimating the move to hit cement majors. The impact has been especially hard on ACC’s performance in the December quarter.
In fact, after ACC’s exceptionally good operating performance in the June quarter, there were hopes that the company could start catching up with its larger pan-India peers. However, not only did it fail to sustain the improvement in the September quarter but the trend has continued.
As a result, the stock has lagged UltraTech, its parent Ambuja Cement, and Shree Cement in the past six to 12 months. It is likely to remain
